As I’m going through all the reward accounts in the UK, the big split for me is this: some banks give you something steady where you basically know what you’re getting, and some seem to change the offer every five minutes.
Since your main bank is part of the long game — the place that stays put no matter how many credit cards or fintechs you burn through — having something stable is actually valuable.
On one end you’ve got Lloyds and NatWest. Club Lloyds is incredibly consistent with its lifestyle benefits, and offers the most choice. NatWest Rewards is just straight cashback. No fuss, no surprises.
On the other end you’ve got Santander and Barclays. I wrote about Santander Edge here, and why I can’t see who this account is for.
Barclays is the more interesting one, but the whole thing really comes down to one simple question: do you watch Apple TV or not.
What does Barclays Blue Rewards Offer
Blue Rewards Account
- Apple TV discount — £5 a month instead of £9.99
- Rainy Day Saver — up to £5,000 at 3.96% AER
- Blue Rewards Saver — easy‑access saver at 2.51%
- Retail cashback — everyday offers, entertainment perks
Requirements
- Monthly fee — £5
- Monthly deposit — minimum £800
Barclays Blue Rewards is basically four things: a cheaper Apple TV subscription, a rainy‑day saver at 3.96% up to £5,000, a Blue Rewards saver at 2.51%, and the usual cashback and entertainment perks that every bank now seems to offer.
The Apple TV discount is the core of the offer. The rainy‑day saver can be beaten easily elsewhere. The Blue Rewards saver is weak — you can get nearly double without trying. And the cashback offers are standard across banks. And in any case, those everyday offers can always get better or worse, we can’t control those.
So Blue Rewards basically comes down to whether you watch Apple TV, and whether you plan to keep watching it for the next year and beyond. If you don’t, the whole thing falls apart. If you do, then you can at least run the numbers and see if the discount actually makes sense.
Let’s do the maths
Apple TV monthly is £9.99. Barclays Blue Rewards gives it to you for £5. So on paper you’re “saving” £4.99 a month.
But that’s not the whole story. If you’re subscribing for a full year, you might as well just pay annually. That’s £89.99, which works out at £7.49 a month. So if you can afford to pay annually, Barclays only saves you £2.49 a month.
At that point, even NatWest’s modest £3 cashback beats it. You can just pay the £89.99 for Apple TV, get £36 back from NatWest, and end up paying £53.99 total. With Barclays, you’re paying £60 total for the year.
And even if we treat the £4.99 as pure gain, Lloyds and Halifax are simply better cash value.
Bottom Line
In the end, it’s a rewards account built around a TV subscription. If that’s the thing you care about, fine. But it’s not much of a foundation to build your banking on.
Have a look for yourself: Barclays Blue Rewards
